Goldman Sachs Group Inc. upgraded shares of AutoNation Inc. (NYSE:AN) from a sell rating to a neutral rating in a research report sent to investors on Thursday morning. Goldman Sachs Group Inc. currently has $49.00 price target on the stock, down from their previous price target of $52.00. The analysts noted that the move was a valuation call.
A number of other brokerages have also issued reports on AN. CL King started coverage on shares of AutoNation in a research report on Wednesday, September 7th. They set a buy rating on the stock. Wolfe Research started coverage on shares of AutoNation in a research report on Wednesday, August 31st. They set a peer perform rating on the stock. TheStreet lowered shares of AutoNation from a buy rating to a hold rating in a research report on Thursday, September 29th. Jefferies Group increased their price objective on shares of AutoNation from $50.00 to $57.00 and gave the company a hold rating in a report on Monday, August 1st. Finally, Seaport Global Securities initiated coverage on shares of AutoNation in a report on Tuesday, August 9th. They issued a neutral rating on the stock. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. AutoNation has a consensus rating of Hold and a consensus target price of $59.43.
Shares of AutoNation (NYSE:AN) opened at 48.31 on Thursday. The firm’s 50 day moving average is $48.35 and its 200-day moving average is $48.57. AutoNation has a 52 week low of $40.45 and a 52 week high of $65.51. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 12.43 and a beta of 1.10.
AutoNation (NYSE:AN) last announced its earnings results on Friday, July 29th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.03. AutoNation had a net margin of 1.99% and a return on equity of 19.91%. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business earned $1.00 earnings per share. AutoNation’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that AutoNation will post $4.26 EPS for the current year.
Large investors have recently modified their holdings of the stock. Nordea Investment Management AB increased its stake in shares of AutoNation by 11.1% in the second quarter. Nordea Investment Management AB now owns 2,285 shares of the company’s stock valued at $107,000 after buying an additional 229 shares during the last quarter. Creative Planning increased its stake in shares of AutoNation by 36.1% in the second quarter. Creative Planning now owns 2,730 shares of the company’s stock valued at $128,000 after buying an additional 724 shares during the last quarter. Liberty Capital Management Inc. purchased a new stake in shares of AutoNation during the third quarter valued at approximately $154,000. Glenmede Trust Co. NA increased its stake in shares of AutoNation by 879.4% in the second quarter. Glenmede Trust Co. NA now owns 3,330 shares of the company’s stock valued at $155,000 after buying an additional 2,990 shares during the last quarter. Finally, Shell Asset Management Co. increased its stake in shares of AutoNation by 14.5% in the second quarter. Shell Asset Management Co. now owns 3,397 shares of the company’s stock valued at $160,000 after buying an additional 430 shares during the last quarter. 69.12% of the stock is owned by hedge funds and other institutional investors.
AutoNation Company Profile
AutoNation, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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